The company's CFO announced that she would also be leaving during the first half of 2018. Net revenue for Hostelworld increased by 10% during 2017 to €86.7 million.
The rise of rentals, aging of facilities and competition from mid- to high-end hotels and bed-and-breakfast facilities also posed a challenge to budget hotels.
Like AccorHotels and Hyatt, Marriott CEO says the company will focus on the higher end of the market because it’s a place where branding can make a difference.
With a further 75,000 hotel rooms in the pipeline, China will soon account for a third of the group’s global portfolio.
Chinese, Indonesian, and Brazilian properties experienced the largest increases in their average scores compared to the previous year.
The joint venture will have an initial registered capital of 100 million yuan ($21 million), with Ascott, Huazhu(China Lodging) and CJIA holding 50%, 10% and 40% respectively in the partnership.
The average net contribution of all the direct distribution channels is €4.59 per booking greater than the average of all the indirect channels.
Hotels view their own websites as equally as effective at driving direct bookings as Google or TripAdvisor, a new report from SiteMinder shows.
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